Renovated Mixed-Use
New
For Sale
$1,100,000
121-19 Sutphin Boulevard, Jamaica, NY 11434
MULTI_FAMILY - Jamaica, NY
Property Size3,800 SF
Lot Size0.05 Acres
Price / SF$289.47
Days on Market7
Property Features for 121-19 Sutphin Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Basement, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 7
Parking features
Alley
Interior features
High Ceilings
Basement
Storage Space, Full
Elementary school
Ps 110
Middle school
Jhs 216 George J Ryan
High school
John Bowne High School
Elementary school district
Queens 24
Middle school district
Queens 26
High school district
Queens 25
Standard status
Active
APN
12216-0001
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12084
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1931
Number of units
4
Building materials
Brick
Listing Agency:
Voro LLC
(877) 943-8676
Listed By:
Eric Santiago
(631) 609-5161
Added: Aug 3
Changed: Aug 7
Last Checked: Aug 9 at 12:06PM
MLS# 1034363
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,800-square-foot mixed-use building contains four renovated units: a ground-floor retail storefront and three residential apartments. The apartment mix includes one three-bedroom unit and two two-bedroom units, totaling seven bedrooms and four bathrooms. The property is delivered vacant, providing flexibility for an owner-user or leasing strategy. Interior features include 12-foot ceilings and a large finished basement. Brick construction dates to 1931, with baseboard heating, wall/window cooling units, natural gas availability, public water, and public sewer.
Located at 121-19 Sutphin Boulevard in Jamaica, the property fronts a commercial corridor and includes alley parking. The 0.0471-acre parcel is within Queens County and carries a postal address in Jamaica, New York. The unit configuration supports a combination of retail and residential occupancy within a single building.
Located at 121-19 Sutphin Boulevard in Jamaica, the property fronts a commercial corridor and includes alley parking. The 0.0471-acre parcel is within Queens County and carries a postal address in Jamaica, New York. The unit configuration supports a combination of retail and residential occupancy within a single building.
Key Highlights
- 3,800 SF mixed‑use building with four renovated units
- Retail storefront plus three apartments: one 3‑bedroom and two 2‑bedroom units
- Seven bedrooms and four bathrooms across the residential component
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,889
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,857,780
$1.9M
Cap Rate 7%
$1,326,986
$1.3M
Cap Rate 9%
$1,032,100
$1.0M
Market Conditions
NOI Build-Up for 3,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$175.6K $46.20/SF
− Vacancy
−$6.7K −$1.76/SF
EGI
$168.9K $44.44/SF
− OpEx
−$76.0K −$20.00/SF
NOI
$92.9K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,857,780
Cap Rate 7%
$1,326,986
Cap Rate 9%
$1,032,100
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 8.44%
Second Best
Retail
$969.0K
$847.9K – $1.13M
NOI $67,830 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,098 @ 7.0% cap · market cap 17.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 11434, NY
66,964
Population
23,787
Households
2.8
Avg Household Size
40
Median Age
22%
College-Educated
87%
High-School Grad
3.2 sq mi
ZIP Area
20,926
Density / Sq Mi
$76,668
Median Household Income
$46,742
Median Earnings
$1,409
Median Rent
$585,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant property combines a retail storefront with three updated apartments and substantial basement space.
Where is this mixed-use property located?
The property is located at 121-19 Sutphin Boulevard Jamaica, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,800 SF mixed‑use building with four renovated units; Retail storefront plus three apartments: one 3‑bedroom and two 2‑bedroom units; Seven bedrooms and four bathrooms across the residential component
